Hyperliquid (HYPE) is 268406.4× the size of Voltage Finance (VOLT) by market capitalisation. Their daily returns move barely together (correlation 0.00 across 30 shared trading days). HYPE has been the more volatile of the two, at 81% annualised against VOLT's 20%.
VOLTHYPE
0.00over 30 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | VOLT | HYPE |
|---|---|---|
| Max drawdown (400d) | -34.9% | -18.9% |
| Risk-adjusted return (90d) | -1.71 | 0.56 |
Relative strength over 90 days: HYPE outperformed VOLT by 31.9% — measured on the VOLT/HYPE ratio, so it holds regardless of market direction.